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&#39Public has more savvy than Sandler thinks&#39 – Fidelity

Fidelity Investments bel-ieves that in a climate of stockmarket uncertainty, Ron Sandler&#39s recommendations aimed at improving the savings habits of UK investors could prove counterproductive.

The fund manager challenges Sandler&#39s assumption that active investment management cannot add value in a liquid and well-researched market and points out that consumers have more savvy than Sandler assumes.

Managing director Richard Wastcoat says: “This Government has consistently sought to undermine the active fund management industry for political ends. The industry has, while delivering consistently higher average ret-urns than index trackers over the past five years, successfully reduced its costs and charges through efficiency and by harnessing the power of the internet. It has put more power and knowledge into the hands of investors than ever before.”


ACA calls on Revenue to simplify pensions

The Association of Consulting Actuaries is calling for financial incentives and the simplification of Inland Revenue requirements, in line with Pickering&#39s proposals, to encourage pension provision.While the ACA welcomes many of Pickering&#39s proposals, it is concerned that a move to immediate vesting will increase employer costs and increase the administrative burden.ACA chairman Gordon Pollock says: […]

Wide hope of rally in markets

Fund managers and IFAs widely expect the stockmarket to stage a comeback in the near future – although the bears fear it could plummet by another 20 per cent before it bottoms out.Despite the FTSE 100 plunging below the psychologically important 4,000 barrier this week, fund firms say there are signs the market could be […]

Simple solution welcomed – IMA

Sandler&#39s focus on simplicity and transparency has been given the nod of approval by the Investment Management Association.Chief executive Richard Saunders says it has long advocated separating the cost of advice from the cost of the product and welcomes the improved adviser qualifications proposed in the review.Saunders also singles out the recommendation to level the […]

Concerns at lack of advice – Winterthur Life

Winterthur Life welcomes the key points in the Sandler report but has expresses concern over proposals to promote products without advice.It says having actively supported the conceptof IFAs charging fees for advice, it has given the thumbs up to separating payment for financial advice from payment for a product sale.The firm also endorses the importance […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


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